Clipped from: https://taxguru.in/income-tax/donaet-file-itr-reconciling-ais-tis-aehereaes-why.html Introduction It’s ITR season again, and many taxpayers are logging in to find something new on their Income Tax portal — AIS (Annual Information
Category: Seven Star
*******ITC on Inputs for Destroyed Goods Reversible: Telangana AAAR
Clipped from: https://taxguru.in/goods-and-service-tax/itc-inputs-destroyed-goods-reversible-telangana-aaar.html ITC availed on inputs used in the manufacture of finished goods that subsequently got destroyed, must be reversed: Telangana AAAR The Telangana AAAR,
Appealing Cancellation of GST Registration, Find Draft Reply here!
Clipped from: https://www.taxscan.in/filing-appeal-revocation-cancellation-of-gst-registration-intent-importance-purposes/469454/ The cancellation of GST registration can have significant repercussions for businesses, affecting their operational continuity and legal compliance. It often arises due to
*******Received GST SCN under Section 16(4)? Here’s What to Do [Find Draft Format Here]
Clipped from: https://www.taxscan.in/received-gst-scn-under-section-164-heres-what-to-do-find-draft-format-here/481746/ When addressing a Show Cause Notice (SCN) issued under Section 16(4) of the CGST Act, 2017, it is vital to craft a clear and legally
*******Availment of Both GST ITC and Depreciation on Capital Goods: Here’s How to Draft Reply to GST Notice [Find Format Here]
Clipped from: https://www.taxscan.in/availment-of-both-gst-itc-and-depreciation-on-capital-goods-heres-how-to-draft-reply-to-gst-notice-find-format-here/442167/ The Goods and Services Tax ( GST ) regime in India aims to eliminate the cascading effect of taxes and promote a seamless
*******S. 128A GST Penalty and Interest Waiver: Find Draft Format Here
Clipped from: https://www.taxscan.in/s-128a-gst-penalty-and-interest-waiver-find-draft-format-here/437607/ The Indian GST law continues to evolve, bringing forth provisions to ease the compliance burden on taxpayers. One such provision is Section 128A
*******Impact of Supplier Default on GST Input Tax Credit Reversal
Clipped from: https://www.taxscan.in/supplier-default-gst-itc-reversal-what-businesses-need-to-know/452691/ In India, the Goods and Services Tax ( GST ) system provides a mechanism for businesses to claim Input Tax Credit ( ITC
*******SCN on Fake InvoiceSCN on Fake Invoices & Non-Existent Businesses: Find Draft Reply Format Heres & Non-Existent Businesses: Find Draft Reply Format Here
Clipped from: https://www.taxscan.in/the-issue-of-fake-invoices-and-non-existent-businesses-legal-and-practical-considerations/491461/ The issuance of fake invoices and the operation of non-existent businesses have become significant concerns under the Goods and Services Tax (GST) regime. Tax authorities
*******Provisional Bank Attachments Under GST: How to Draft Reply Notice
Clipped from: https://www.taxscan.in/legality-of-provisional-bank-attachments-under-gst-how-to-draft-reply-notice/491124/ The Goods and Service Tax ( GST ) was introduced in India for multiple assessment provisions. Tax collection and enforcement mechanisms. The provisional
*******Labour reforms by states have limited potential, defeat purpose: Experts | Economy & Policy News – Business Standard
Clipped from: https://www.business-standard.com/industry/news/labour-reforms-by-states-have-limited-potential-defeat-purpose-experts-125052301572_1.html At least 20 states and UTs have amended their laws and increased the threshold for retrenchment without government approval from 100 to 300
*******ITR Filing 2025: This year’s Form 16 will be more detailed don’t miss any exemption this time – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-filing-2025-this-years-form-16-will-be-more-detailed-dont-miss-any-exemption-this-time-477337-2025-05-22 As the ITR filing deadline of July 31 nears, salaried taxpayers must keep an eye out for Form 16—now more detailed than ever.
*******ITR deadline approaches: Five mistakes to avoid while filing income tax returns – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-deadline-approaches-five-mistakes-to-avoid-while-filing-income-tax-returns-477351-2025-05-22 ITR filing deadline breach: Income below Rs 5 lakh incurs a Rs 1,000 penalty, while incomes over Rs 5 lakh may result in
*******From capital gains, business income to rent in India — NRIs must know these tax rules before filing – BusinessToday
Clipped from: https://www.businesstoday.in/nri/story/from-capital-gains-business-income-to-rent-in-india-nris-must-know-these-tax-rules-before-filing-477507-2025-05-23 Non-Resident Indians (NRIs) earning income from Indian sources must file their Income Tax Returns (ITR) in specific cases, with the deadline for FY
*******From salaried to self employed: Know which ITR form fits you to avoid costly errors before deadline – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/income-tax-new-itr-forms-ay-2025-26-filing-deadlines-477516-2025-05-23 The Income Tax Department has introduced ITR forms for AY 2025-26, with filing commencing soon. Key deadlines include July 31 for individuals and
*******ITR Filing: Which ITR form is applicable for tax return filing by NRIs in 2025? – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/itr-filing-which-itr-form-is-applicable-for-tax-return-filing-by-nris-in-2025-3855374/ The applicability of ITR forms depends on factors such as the assessee’s sources of income, total earnings and also the category of the
*******Set off your options trading loss against LTCG from shares; your queries answered – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/set-off-your-options-trading-loss-against-ltcg-from-shares-your-queries-answered-3855435/ Explore how to set off options trading loss against LTCG, claim tax deductions on two home loans including let-out property, and understand Section
*******ITR Filing: How to File Income Tax Returns (ITR) Step by Step for Beginners
Clipped from: https://www.taxscan.in/itr-filing-how-to-file-income-tax-returns-itr-step-by-step-for-beginners/520361/ In addition to being required by law, filing your income tax return (ITR) has several important financial advantages. You must lawfully file an
*******Learn why RBI’s 180-day rule complicates gifting money to NRI children abroad
Clipped from: https://www.taxscan.in/gifting-money-to-nri-children-why-the-rbis-180-day-rule-is-a-hidden-hurdle/517151/ In today’s globalized world, it is quite common for Indian parents to financially support their children who have settled abroad—whether for educational expenses,
*******section 54 exemption: Selling two homes? New tax ruling says you can still save on capital gains | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/selling-two-homes-new-tax-ruling-says-you-can-still-save-on-capital-gains-125051900886_1.html A recent ITAT ruling offers tax relief for those selling two homes and reinvesting in one, easing capital gain worries, especially for joint
*******Old or new tax regime? A step-by-step guide to choose what’s best for you | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/old-or-new-tax-regime-a-step-by-step-guide-to-choose-what-s-best-for-you-125051900708_1.html The new regime offers lower tax rates, but does not allow most tax deductions. On the other hand, the old regime permits popular
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